Math/Economics psychology

[Anaxogoras]

interesting, I would have said 90% would take the money in both cases as about 10% of people are risk-seekers. *scratches head*

Yes, if the scenario didn't start off with "I give you $1000."  Having safe money in the pocket even makes the conservative willing to take on some risk for the prospect of extra gain.

[MrRiplEy[H]]

I think the original setup was wrong.

The psychology part is really this:

I give you 500 bucks and then make you toss a coin whether or not to gain 500 more

vs

I give you 1000 bucks and make you toss a coin whether or not I will take 500 away from you.

The first one sounds very positive while the latter sounds negative even though both have the same possible results.

[moot]

In the same vein...

[Tordon22]

Good find. Very interesting!


-Zap

[Kermit de frog]

I'm pretty sure I would take the coin toss both times but I'm not sure how the conveyor belt will affect the odds.

It will NOT fly.